Deutsche Bank AG promoted Ashley Wilson to a newly created role overseeing stock trading for Europe, the Middle East and Africa, reshuffling an equities business it’s trying to build as it shrinks in other areas.

Wilson will keep his current role as co-head of global prime finance together with Greg Bunn, according to a memo obtained Tuesday by Bloomberg News, the contents of which were confirmed by a Deutsche Bank spokesman in London. The new role will oversee equity derivatives, equity trading synthetics and fund-linked products, the Frankfurt-based lender said in the memo. Wilson will remain based in London.

Chief Executive Officer John Cryan is seeking to boost stock-trading operations while pulling back from other investment-banking businesses that are grappling with new capital rules and the cost of settling legal problems. The strategy has yet to pay off: Revenue from equities trading slumped about 32 percent to 1.5 billion euros ($1.7 billion) for the first half of 2016, Deutsche Bank said in July.

“Deutsche Bank needs to make changes,” said Oliver Rolfe, managing director at Spartan Partnership Equities, a London-based recruiter that focuses on the stock-trading business. “Wilson has been there for a good amount of time. He’s got the backing of people around him internally, which makes it easier to give him a global role.”

First-half revenue across all equities-trading businesses fell as a result of factors including “lower market volumes” and “lower client activity,” according to Deutsche Bank’s second-quarter presentation.

Since then, its shares have fallen through their July lows, touching a record on concern about the bank’s capital levels given potential damage from U.S. fines.